Japanese Candlesticks Analysis 15.11.2017 (AUD/USD, USD/CAD)
AUD USD, “Australian Dollar vs US Dollar”
At the H4 chart, after forming Hammer and Inverted Hammer patterns, which indicated a possible trend reverse, the AUD/USD pair broke them and continued falling. By now, the price has formed one more Hammer pattern and, judging from previous movements, may continue trading to the downside.
USD CAD, “US Dollar vs Canadian Dollar”
As we can see at the H4 chart, while forming the descending channel, the USD/CAD pair has finished another correction and reached the resistance level. Shooting Star and Harami patterns indicate that the current correction may have been complete. Later, the price may continue falling towards the downside border of the channel.
RoboForex Analytical Department
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.